SNDL - Nova Cannabis Hits 100 Stores As SNDL Transfers Dutch Love To Streamline Retail Presence Via Strategic Divestiture | Benzinga
SNDL Inc. (NASDAQ:SNDL) and Nova Cannabis Inc. (OTCQB:NVACF), two of Canada’s largest cannabis companies, have announced a strategic realignment of their retail operations. The agreement sees SNDL assigning the rights to four Dutch Love cannabis retail stores to Nova Cannabis.
Strategic Assignment And Financial Enhancements
The transaction will see Nova issuing SNDL CA$8.179 million ($6.03 million) in shares, calculated on a 20-day VWAP as of March 28, 2024. Subject to regulatory, court, and Toronto Stock Exchange approvals, this deal is poised for completion by April’s end. This acquisition is expected to elevate Nova’s total store count to 100, while SNDL’s reaches a substantial 190 across various brands.
Top executives from leading cannabis operators are slated to share valuable insights at the upcoming Benzinga Cannabis Capital Conference in Florida on April 16-17. The two-day event that returns to The Diplomat Beach Resort will be a chance for entrepreneurs, ...